Platinum sponsors:

Xth InternatIonal CIFa Forum

25-27 april 2012, monaco, Sporting d’hiver

2012 ELECTION YEAR: WHAT CHALLENGES FOR THE INTERNATIONAL FINANCIAL SYSTEM?

With the participation of:

ETHICS, POLITICS AND FINANCE

FIDURHONE S.A.

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14.30 Registration

opening ceremony

15.00 Opening speech of the Xth International CIFA Forum by Mr. Pierre Christodoulidis*, Chairman and Executive President of CIFA, Geneva, Switzerland

15.15 Speech by S.E. Nassir Abdulaziz Al-Nasser President of the 66th Session of the United Nations General Assembly

15.30 Speech by S.E. Laura Dupuy President of the Human Rights Commission of the United Nations

15.45 Speech by M. Carlos Lopes Deputy of the General Secretary of the United Nations, Director General of UNITAR

16.00 Speech by S.E. Lazarous Kapambwe President of the Economic and Social Council of the United Nations

16.15 Message from the Chairman of the Organisation Committee Guy Raymond Cohen*, Member of the Executive Committee of CIFA, Vice President of A.NA.CO.FI, Paris, France

16.30 Message from the Monaco authorities

17.30 ConFerenCe: Is money the source of happiness? Matthieu Ricard, buddhist monk, photographer and author

18.30 End of the first day

19.00 Cocktail

Wednesday 25 april 2012XTH INTERNATIONAL CIFA FORUM

* member of the executive Committee of CIFa

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08.00 Registration

08.40 Day Chairman’s welcome address:

FInanCe anD eleCtIonS08.45 toPIC I: Why has the international financial system become so harmful today?

– Governments and global banks in bankruptcy – Sovereign debts: what solutions to solve the problem? – When financial practices reach the level of abuse: the case of Island – Bankrupt states, discredited banks: is fraud at the heart of the financial system? – Too big to fail: is it compatible with the liberal system? – What is the usefulness of global financial institutions (IMF, World Bank, FATF) if they are unable to fight crisis and abuses?Moderator: Pierre Christodoulidis, Chairman and Executive President of CIFA, Geneva, SwitzerlandSpeakers: Prof. William K. Black, White-collar criminologist and former senior financial regulator, Associate Professor of Economics and Law, University of Missouri, Kansas City, USA Jacques Potdevin, Former President, Federation of European Accountants (FEE), Member of International Federation of Accountants (IFAC), Paris, France Gildas Hita de Nercy, Head of Research, Exane Derivatives, Paris, France

10.00 Parallel SeSSIon 1: Does it make sense to establish yourself in monaco?Christian Boisson, Member of Ordre des Experts-Comptables de la Principauté de Monaco, Monaco Guy-Thomas Levy-Soussan, Member of AMAF (Association monégasque des activités financières), Monaco Michel Dotta, Chairman, Chambre de développement économique de Monaco, Monaco

10.00 Parallel SeSSIon 2: e learning with unItarBabar Kamal, Manager, Public Finance and Trade Programme, UNITAR

10.45 Coffee break

11.15 toPIC II: What solutions will future democratic leaders implement to build a virtuous financial system?– What are the solutions that the future leaders propose to put the financial system again at the service of the real economy? – Will the newly elected leaders have the courage to reestablish the stability of financial markets? – Will they fight against the continuation of certain unacceptable financial practices? – Will they be ready to accept sacrifices that are needed to moralize the economy and clean up the financial sector? – Separation of retail banks and investment banks: the UK is one step forward, what will the US and the UE do? – What would be the real efficiency of the measures that have been advocated recently (Tobin tax on financial transactions, Eurobonds, ban of short selling, golden rule on public deficits)Moderator: Daniel Mitchell, Senior Fellow, Cato Institute, Washington, USASpeakers: Peter Andrews, Head of Economics of Financial Regulation Department, Financial Services Authority (FSA), London, UK Hans-Peter Bauer, Member of the Board of the Basel Institute on Governance, Senior Advisor to the Wolfsberg Group, Switzerland Olivier Delamarche, Partner and manager, Platinium Gestion, Paris, France Paul Atkins, former Commissioner of the Securities & Exchange Commission

Thursday 26 april 2012XTH INTERNATIONAL CIFA FORUM

* member of the executive Committee of CIFa

12.30 Lunch and networking

14.00 toPIC III: Political power vs financial power: can legislators emancipate themselves in order to better manage financial crises?– What are the available strategies and instruments for governments? – Is regulation the solution and how? – How do politicians react to the failure and the loss of credibility of the regulators? – Which public and private entities will supervise financial activities and play the role of whistleblowers? – What have been the conditions of the hegemony of finance on political power? – How to explain the surprising resilience of the power of the financial sector in United States since 2008?Moderator: Steve Young* , Global Executive Director, Caux Round Table, Saint Paul, USASpeakers: Roger Nightingale, Economist, RDN Associates Ltd, London, USA Hans Geiger, Dr. oec. publ., Prof. Emeritus University of Zurich, Switzerland Lord Daniel Brennan, Co-chairman the advisory board of the Washington-based think-tank Global Financial Integrity, Bar representative on the Council of the International Bar Association

15.15 Coffee Break

15.45 toPIC IV: Can the eurozone survive? – What is mainly at stake with the European economic government? – Is the creation of Eurobonds not only a smart move to postpone the solution to the problem of over-indebtment and of fiscal irresponsibility of the PIGS countries? – Did the crisis of Greek debt damaged the independence of the European Central Bank? Moderator: Daniel Mitchell, Senior Fellow, Cato Institute, Washington, USASpeakers: Stephanie Kelton, Assistant Professor Macroeconomics, Finance, Money and Banking, University of Missouri, Kansas City, USA Olivier Delamarche, Partner and manager, Platinium Gestion, Paris, France Christian Parisot, Chief Economist, Aurel BGC, Paris, France

17.00 End of the second day

20.00 Gala Dinner at the hôtel de Paris by invitation only (Black tie suggested)

Thursday 26 april 2012XTH INTERNATIONAL CIFA FORUM

* member of the executive Committee of CIFa

Friday 27 april 2012XTH INTERNATIONAL CIFA FORUM

09.00 Registration

09.25 Day Chairman’s welcome address: Jean-Pierre Diserens*, Secretary-General of CIFA, Geneva

09.30 toPIC V: how to fight against the rapacious power of finance against the real economy?– Which ethical values to combat the predatory power of finance on real economy? – How to combine the interests of speculation and real economy? Moderator: Steve Young*, Global Executive Director, Caux Round Table, Saint Paul, USASpeakers: Georges Ugeux, Former EVP of International & Research for NYSE, Chairman & CEO, Galileo Global Advisors, New York, USA Gilles Duteil, Director of CET FI, Université Paul Cézanne, Aix-en-Provence, France Gunther Capelle-Blancard, Deputy-Director of the Center for prospective studies CEPII, Paris, France

10.45 Coffee Break

11.15 toPIC VI: Should the power of the rating agencies be regulated? – Should the rating agencies be regulated? – Conflicts of interests and neutrality of the rating agencies – Are rating agencies still credible after their active involvement in the subprime? – Who did prosecute or try to prosecute for their faults? What are the justifications? – Why has the problem of sovereign debt been unveiled so late?Moderator: Ariane Warlin (CIFA)Speakers: Steve Young, Global Executive Director, Caux Round Table, Saint Paul, USA François Veverka, Standard & Poor’s former Executive Managing Director for Europe, Partner at BANQUEFINANCE Associates, Paris, France Paul Atkins, former Commissioner of the Securities & Exchange Commission, USA

11.15 Parallel SeSSIon 1: remuneration of IFa’s in europe. Piero Crivellaro, Independent consultant EC Public Affairs Vincent Derudder, President, FECIF, Luxembourg, Grand Duchy of Luxembourg David Charlet, President, A.NA.CO.FI, Paris, France

12.00 Parallel SeSSIon 2: Financing of Sme’s in France Jean Rognetta, President, PME FINANCE - journalist - Les Echos & Capital Finance, Paris

12.30 Closing session– Jean-Pierre Diserens*, Secretary-General of CIFA, Geneva

13.00 End of the forum

* member of the executive Committee of CIFa

Silver sponsors:

parTners FederaTions and associaTionsXTH INTERNATIONAL CIFA FORUM

Swiss Association of Independent Financial Advisors (SAIFA/GSCGI), Geneva

Contributing partners:

Association nationale des conseillers financiers, Paris

PraCtICal InFormatIon

Information and registrationAcademy & Finance SAP.O. Box 6069, CH-1211 Geneva 6T +41 (0) 22 849 01 11F +41 (0) 22 849 01 10E info@academyfinance.chwww.cifango.org

reGIStratIon PolICy anD Payment

The Convention of Independent Financial Advisors (CIFA) has outsourced the organisation of the forum to the Swiss conference organiser Academy & Finance SA. The credit card will be debited upon reception of the present registration form. Academy & Finance will issue an invoice and send it to you. Substitutions within the same company are accepted with CIFA’s agreement.

FeeS (Vat InCluDeD)

Forum 25-26-27 April 1.500 €Forum 25 April 450 €Forum 26 April 800 €Forum 27 April 450 €Active members of a partner association: 50% discount

Gala Dinner of 26 April by invitation only

reFunD PolICy

A cancellation fee of 50 % of the invoiced amount applies for all cancellations. No refunds for any cancellation received after 31 March 2012.

hotel reSerVatIonS

Academy & Finance has arranged for group rate bookings of rooms at preferential prices.

DateS anD PlaCe oF the ConGreSS

Wednesday 25, Thursday 26 and Friday 27 April 2012Sporting d’hiver, Place du Casino 98000 MonacoTel +377 98 06 17 17

WorkInG lanGuaGeS

The working languages will be English and French, which will be translated by professional interpreters.

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YES I wish to register for the Xth International Forum of the Convention of Independent Financial Advisors (CIFA) and I choose: Forum 25-26-27 April Forum 25 April Forum 26 April Forum 27 April Dinner 26 April by invitation only

aCCommoDatIon

hôtel hermitage- Room Classic Single breakfast included per night 235 €- Room Classic Double breakfast included per night 280 €- Suites (price communicated on request)

Arrival date............................................................Departure date................................................................................After 25 March 2012, reservations will be made subject to availability and current prices. After 25 March 2012 it will not be possible to cancel your reservation.

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I wish to pay by: Credit card Bank TransferCredit card payments will be debited immediately upon receipt of card details. Credit card payments will be subject to a surcharge of 4% (inc. VAT) to cover commission charge.

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The congress organisers reserve the right to change the programme or the hotel reservation if, despite their best efforts, circumstances force them to do so.

regisTraTion FormXTH INTERNATIONAL CIFA FORUM

Rue du Vieux-Collège 3 – P.O. Box 3255, 1211 Geneva 3 Tel. +41 22 317 11 11 – Fax +41 22 317 11 77 mail@cifango.org – www.cifango.org